How to stake Ethereum (ETH) in Australia

Where should I stake my Ethereum?

There are many reputable cryptocurrency exchanges in Australia that offer Ethereum staking. Ethereum is the most popular staking cryptocurrency globally. We recommend using the CoinSpot platform to stake Ethereum, as it offers the best staking yields. Additionally, it is only 0.1% to buy ETH on CoinSpot, which is the lowest trading fees in Australia.

CoinSpot is Australia's largest exchange and offers a variety of features and assets. On CoinSpot users can buy, stake and use Ethereum, by use we mean that you can buy NFTs with ETH on the exchange. The available NFTs you can buy on the platform are Bored Ape Yacht Club, Azukis & more. To learn more about CoinSpot, you can visit our CoinSpot Review.

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How to Stake Ethereum in Australia

If you're looking to stake Ethereum in Australia for low fees, you have come to the right place. The easiest and fastest way to stake Ethereum is though the CoinSpot exchange. Users can deposit Australian dollars onto CoinSpot via PayID, POLi, BPAY, Osko, Bank Transfer, Credit/Debit Card and Cash. Follow the below steps to get started.

Sign Up: Create an account on CoinSpot and complete verification.
Buy or Deposit ETH: Either Buy ETH on CoinSpot or transfer it from an existing wallet.
Stake ETH: Go to the 'Wallets' tab, click Ethereum, go to the 'Earn' section, input the amount of ETH you want to stake and click 'Confirm Earn Amount'. You can see your Staking balance and earnings in this wallet.

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Can I still stake my Ethereum before the Merge?

Yes you can still stake Ethereum before the merge happens, but the way ETH staking works on the blockchain, users will not be able to withdraw, trade or stake any rewards earned by staked ETH until the Ethereum 2.0 merge is complete, which is expected to happen by the end of September, 2022. To learn more about the Ethereum merge, you can visit our Ethereum Merge guide.

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What is Ethereum

Ethereum is a programmable blockchain network that is used to create all sorts of decentralised applications (DApps), from financial instruments to voting platforms, and anything else that can be built on a blockchain. Ethereum's native currency, Ether (ETH), is used to pay for transaction fees and computational services on the Ethereum network.

Ethereum was launched in 2015 by Vitalik Buterin, a young programmer who was inspired by Bitcoin's success. However, he believed that Bitcoin was limited in its potential as a decentralised application platform because it could only be used for financial transactions. Ethereum has since grown to become the second largest crypto by market cap, with a total value of over $100 billion.

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Does it cost money to stake Ethereum?

No, it is completely free to stake Ethereum on CoinSpot. However, not all exchanges offer free staking. Most centralised (off-chain) crypto exchanges offer free staking but decentralised (on-chain) platforms charge gas fees to complete the staking transactions. That's why we recommend staking off-chain on a secure, centralised platform like CoinSpot.

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